The toon calls it right, except that there ARE different grades of crude, that sell for different prices, determined by the cartels, traders, and “insiders”, NOT the “retail markets” via “demand”.
When the price of gasoline goes down, refineries close to bring it back up. The president has no control (unless, like Newt apparently, they have a secret plan… government take over of refineries, maybe?)
ONshore federal production ’09-105 million barrels, 10= 108 mb. ’11= 12 mb. Offshore: ’08 = 462 mb, ’09=527 mb, ’10= 618 mb, ’11= 514 mb, can anyone say “BP is good for you”? (please note that even AFTER BP, offshore was higher under Obama, than under Bush leasing.)
Natural gas from federal has been static to down, but on private, going up, so no need to increase federal.
The claim Obama is the “problem” and not the companies is totally bogus. Interesting also how hard it is to track down how many barrels of offshore oil are produced and pay ZERO royalties. The same Republicans in the House Resources Committee turning it totally “political” to attack Obama, do NOT want you to know how much they’ve been giving away, for decades! About those “tax breaks” and “subsidies” oil companies want MORE of!!
Indian Land production went from 10 million barrels in ’08 to 19 million barrels in ’11. So much for “cuts”?
once again you dont get it and neither does heller. we are dependant on more foreign oil because the enviro nazis have obama and the liberals in control of opening up more domestic production. we now know that we have more oil on our soil than saudi arabia but the gov wont allow drilling on any land that they have say over. the only drilling we are dong now is on private land. if we took advantage of all our possible well sites we would buy much less foreign oil and this would keep us from giving a crap what happens with the middle east oil and they would lower the price to make us want to buy more of theirs. its a win win
Dtroutma about 12 years ago
The toon calls it right, except that there ARE different grades of crude, that sell for different prices, determined by the cartels, traders, and “insiders”, NOT the “retail markets” via “demand”.
pirate227 about 12 years ago
This is called a reality check, cons.
cdenil about 12 years ago
But the money would stay in America!
starbase502 about 12 years ago
Left wing lies. If there is more of something the price goes down. It’s called the law of supply and demand.
CorosiveFrog Premium Member about 12 years ago
Capitalism at work.
Dtroutma about 12 years ago
Starbase and others: the oil companies totally control the supply, and we have to PAY whatever they DEMAND.
ARodney about 12 years ago
When the price of gasoline goes down, refineries close to bring it back up. The president has no control (unless, like Newt apparently, they have a secret plan… government take over of refineries, maybe?)
ohinz about 12 years ago
So maybe you could explain the price differential between WTI and Brent.
Dtroutma about 12 years ago
ONshore federal production ’09-105 million barrels, 10= 108 mb. ’11= 12 mb. Offshore: ’08 = 462 mb, ’09=527 mb, ’10= 618 mb, ’11= 514 mb, can anyone say “BP is good for you”? (please note that even AFTER BP, offshore was higher under Obama, than under Bush leasing.)
Natural gas from federal has been static to down, but on private, going up, so no need to increase federal.
The claim Obama is the “problem” and not the companies is totally bogus. Interesting also how hard it is to track down how many barrels of offshore oil are produced and pay ZERO royalties. The same Republicans in the House Resources Committee turning it totally “political” to attack Obama, do NOT want you to know how much they’ve been giving away, for decades! About those “tax breaks” and “subsidies” oil companies want MORE of!!
Indian Land production went from 10 million barrels in ’08 to 19 million barrels in ’11. So much for “cuts”?
oldmxer about 12 years ago
once again you dont get it and neither does heller. we are dependant on more foreign oil because the enviro nazis have obama and the liberals in control of opening up more domestic production. we now know that we have more oil on our soil than saudi arabia but the gov wont allow drilling on any land that they have say over. the only drilling we are dong now is on private land. if we took advantage of all our possible well sites we would buy much less foreign oil and this would keep us from giving a crap what happens with the middle east oil and they would lower the price to make us want to buy more of theirs. its a win win